BTC Breaks 30k, Better than expected CPI, & Laser eyes return to Microstrategy.
Bitcoin's Triumph, Inflation Surprises, and MicroStrategy's Revived Vision: Uncover the Crypto World's Latest Developments
GM, GN, & Good day Frens!
Bitcoin rose above $30,000 for the first time in 10 months after the CPI report showed cooler-than-expected inflation data. Ethereum dipped from its $1,900 level as it rolls out its Shanghai upgrade over the next 24 hours. ETH holders can withdraw their staked tokens following the transition to a proof-of-stake network, which could lead to selling pressure over several days. However, 51% of staked Ethereum was locked up at higher prices than the current level, which diminishes the risk of selling ETH to meet tax liabilities.
And we don’t mean to bury the lead - the laser eyes have returned to MicroStrategy as their Bitcoin bet has returned to profitability.
The continued strength in the crypto market is notable as it has been able to buck a lot of persistent FUD and fear of a broader global economic slowdown. Maybe Balaji’s bet is right. 👀
· Ava Labs partners with South Korea’s SK Planet to expand into APAC.
· $ETH crosses $1900 ahead of announced Shanghai and Capella upgrades.
· Optimism’s Bedrock upgrade expected to go live in the next two weeks or so.
· The Governments of Texas, Montana, and Alabama have filed cease-and-desist orders against AI-powered crypto trading dApp YieldTrust.ai.
· OpenSea has launched a new marketplace OpenSea Pro targeted towards savvy NFT traders.
· Binance announced expansion into Argentinian market, allowing transactions to be conducted in Argentine Peso.
· Twitter briefly changed its logo to Dogecoin’s symbol, resulting in an increase of over 30% in value.
· Ralph Lauren has announced plans to accept crypto as a payment method at its Miami store.
· Crypto-related trademark applications in the US were reportedly two-thirds lower in Q1 of 2023 than in the same period last year.
· Swedish crypto tax platform Divly recently reported that only 0.53% of global investors reported their crypto assets for tax purposes in 2022.
Have you ever heard of NFT airline tickets? NFTs are going to revolutionize the way we travel by giving us a secure and unique way to store and access our flight tickets. It is about time someone came up with a solution to those pesky paper tickets that always get lost or crumpled up in our bags. Plus, NFTs allow airlines to easily verify the authenticity of tickets and prevent fraud. It’s an exciting development in the world of travel that’s worth keeping an eye on. Who knows, maybe one day we’ll all be collecting NFTs for every trip we take.
Mutiny is a new kind of mobile wallet that is making waves in the digital currency market. With its seamless design and easy-to-use interface, managing your crypto assets has never been more effortless. Plus, Mutiny’s multi-coin support means you can store and use all your favorite cryptocurrencies in one place. And the best part? It is entirely decentralized, so you can rest easy knowing your assets are safe and secure. Say goodbye to clunky wallets and hello to the future of crypto with Mutiny.
Pogs are back, and better than ever! For those who may not remember, this 90s sensation has been reborn in the form of digital collectibles. What began as a game played with small cardboard disks, now exists in the realm of blockchain technology. Pogs have come a long way from the schoolyard; they’re now being traded as NFTs on various platforms. These digital collectibles have caught the attention of collectors and investors alike. So, if you have some old Pogs lying around, it’s time to dust them off and see if they’re worth something in today’s market.
Have you ever wondered what happens to excess green energy? Well, it turns out that Bitcoin mining might be the best use for it. According to a recent report, batteries may not be the most practical solution to store excess energy. Instead, using it to mine Bitcoin could be a more efficient method. This would not only give a new purpose to the excess energy but also reduce the carbon footprint of Bitcoin mining. With the increasing demand for sustainable energy, this could be a major step towards a greener future.
Regardless of where you stand on regulation in DeFi, it is clear that the US government is throwing a lot of political capital into addressing its role in financial technology. But with any new industry comes new risks. That is where this review from the US Treasury comes in. They take a deep dive into the potential risks and challenges of DeFi, from smart contract vulnerabilities to money laundering concerns. It’s worth a read if you’re interested in the future of finance and how blockchain technology is transforming the industry. So, grab a cup of coffee and dive into the DeFi world with this comprehensive review!
Join the Velvet Fam Today
Receive an exclusive report on the top holdings of whales in Crypto
We will send you this exclusive report when you refer 3 friends to the Velvet.Capital DeFi Newsletter!